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Building inflation helps Irish business become most profitable for Grafton Group

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The firm, which owns the Woodie’s chain, said there is a return to more “normal” spending on DIY goods

Building price inflation contributed to making one of its Irish businesses the most profitable for Grafton Group, the company said as it announced its 2022 results.

The company, which in Ireland owns building materials supplier Chadwicks and retail DIY chain Woodie’s, said revenues rose by 9 per cent to £2.3 billion during the year. However, the company reported a slight drop in operating profits, which declined from £269 million to £264 million.

 

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